If you’re trying to decide whether to sell a house as is or if it’s worth investing in repairs, it can be a challenging decision to make. Your choice will likely depend on several factors, including the condition of your Nebraska home and the state of the housing market in your area.
However, before you put your place on the market, you’ll want to learn the benefits of either option -and which may turn out to be a waste of your time and money. So below, we’ll lay out all the information and share some advice so you can make the best decision, whether that’s selling as is or fixing up your place.
Benefits of Selling Your House As Is in Nebraska
Before explaining the benefits of selling your house as-is, let’s clarify what selling as is actually means. To sell your Nebraska home as-is means that you will not make any repairs to the home and that the potential buyer will purchase the house in its current condition. Even if a home inspector states that there is a foundation issue and the roof has a leak causing water damage, the seller will not make any repairs or give any credits to the buyer towards repairs.
For sellers dealing with a damaged, rundown, ugly, or outdated house, selling as is can provide significant savings and avoid months of work. Besides that, selling as-is can also be a great solution if you simply prefer not to make any repairs to your home before listing.
Below are three benefits of selling a house as is in Nebraska so you can decide if any would apply to your current situation.
Benefit #1: You’ll Save on Renovation Costs
The main benefit of selling a property in its current condition is that it helps save a lot of money. However, to make repairs, renovations, and stage your house for prospective buyers isn’t cheap.
Depending on the extent of repairs needed to get your house into a sellable condition, you could be talking about several thousand dollars worth of work before it’s ready to sell. And unfortunately, there is no guarantee you’ll make that money back when you sell your Nebraska property.
Selling as is, however, allows you to avoid hefty repair costs – which may be helpful if finances are tight, you’re trying to avoid foreclosure or bankruptcy.
Benefit #2: You’ll Be Able to Sell Your House Faster
Getting a house ready to sell isn’t usually a fast process. Besides repairs, it also takes time to stage, redecorate and clean your home. And don’t forget you’ll need to clean out your garage, storage spaces, and closets to be presentable for potential buyers. This could easily turn into weeks or months’ worth of work.
To determine your timeframe, you’ll want to start accessing your home to determine what needs to be done. Some of the repairs you may be able to do on your own, but you’ll just have to find time to do them. Other repairs may require a contractor and crew to come out to do the work. But that could take you a week or two to find the right one and get quotes for the project.
Once you figure out which one you’d like to hire, they may be booked out for a couple of weeks. Another issue is that building supplies are in high demand, so you may have hold-ups getting materials or appliances, which could affect your timeline.
When you sell as-is, you can put your house on the market right away. Of course, you’ll still need to do some basic cleaning and decluttering if you decide to list with a real estate agent or sell your house without a realtor. But you should be able to do that pretty quickly compared to getting all the work done.
>> Related Article: How To Sell A House In Nebraska – A Guide To Selling Your Home Quickly
Benefit #3: Less Stress
Let’s be honest, getting a house ready to sell and rearranging your finances to make repairs can be stressful – especially when there is no guarantee that you’ll get a return on your investment or sell your house any faster once the work is done. However, by selling as-is, you can list your house whenever you’re ready without investing any more money into the home.
However, if you are concerned about finding an as-is buyer, to ease your stress even further, you can sell your house to one of the companies that buy houses in Lincoln, Omaha, or Papillion.
Benefits of Fixing Up a House Before Selling
On the flip side, there are some benefits to fixing up a house that you should consider before making your final decision. Below are two of the advantages of fixing your home before you sell that’d be wise to consider.
Benefit #1: You May Profit More From Your Home Sale
If you’re hoping to maintain what your home is worth, making repairs will be necessary. If you’re hoping to make a profit from your home sale and ask for more than what it’s worth, then that usually takes an investment on your part.
To increase the value of your home, making certain improvements can help do that. However, not all improvements provide the same return on your investment. So before you decide to make any upgrades, you’ll want to find out which improvements offer the best ROI and not over upgrade for your area.
>> Related Article: The 7 Best Projects To Do Now To Sell Your House Fast In Nebraska
Benefit #2: You Might Find a Buyer Faster
To be frank, most buyers aren’t looking for fixer-uppers. For the same reason, sellers would prefer to avoid home repairs (time and money); buyers would too. So most people looking to buy a house in Nebraska would pick something that is move-in ready and requires minimal work. If you go ahead and complete all the necessary repairs, chances are you’ll attract more buyers.
Should You Sell Your House As Is or Fix Up Before Selling?
Should you sell your house as-is or fix it up? Well, unfortunately, there isn’t a clear answer to that question. It’s entirely up to you and the goals and expectations you have of selling your house. If you’d prefer not to spend any more money on a place you’re about to sell, then selling as-is may be the best option. On the other hand, if you’re hoping to sell for top dollar, making repairs will be necessary to command a higher asking price and attract more buyers.
The good news is that there are plenty of alternative ways to sell a house, and selling as-is may be a great solution.
Advice Before Deciding
As you weigh your options and the pros and cons, a few more things may help make your decision. Below are a few things you’ll want to research before planning your next move.
Research Nebraska As-Is Home Prices
Before you say yes or no to selling your house as-is, research what Nebraska houses are going for in as-is condition. You can do this by conducting a search on a real estate website for as-is homes for sale in your area. Once it generates a list, find out what the average price per square foot is. Make sure to use real estate listings that are as close-in: location, size, and condition as yours. This will give you a better idea of what you could potentially make from your home sale.
Research Nebraska Real Estate Prices
Don’t forget to research the Nebraska real estate market. You’ll want to figure out if now is even a good time to sell and what the competition looks like. For example, are most houses in excellent condition or older and in need of renovations? What are the current real estate prices? Have they increased year over year? How long are houses staying on the market?
It’s important to scope out the competition in your area and determine if this is even the right time to sell your house.
Work Out Costs of Repairs – Is It Worth It?
If you’re still on the fence about repairing or selling as-is, work out the repair costs. First, make a list of all the repairs that need to be completed before you list your house. Then get estimates for all those repairs. Next, you’ll want to see what you can afford to fix. Anything you don’t improve, just remember the buyer may ask you to give them credit towards fixing them after closing.
If you’re okay spending the money to make repairs, go for it. However, if you prefer to avoid the hassle and expense then selling your house as-is may be a better option.
Although selling a house as is won’t produce significant profits, it will help you to avoid paying for expensive repairs out of pocket and dealing with the hassle of work being done to your home. Some people see that as a small price to pay to move out without doing any work and to sell quickly.
However, one main concern is how do you find a buyer willing to buy a house that needs repairs? Good question- This is when selling to a local “We buy homes Nebraska” company would be a great solution.
Element Homebuyers is a local real estate solutions company and as-is home buyer based in the Lincoln, Nebraska, area. They buy houses no matter the condition, the reason, or the challenge. They also don’t charge realtor commissions which is another significant savings. And because they buy houses with cash, they can make you an offer for your home within 24-hours and close in as little as 7-days, or longer if needed.